Saudi Utility Giant Buys Engie Energy Assets in Kuwait and Bahrain

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Saudi Utility Giant Buys Engie Energy Assets in Kuwait and Bahrain

Saudi Arabia’s utility giant ACWA Power has agreed to buy the stakes of France’s Engie in four gas-fired power plants and water desalination facilities in Bahrain and Kuwait for a combined $693 million. The acquisition, viewed as strategic by the Saudi group, includes an operating capacity of 4.61 gigawatts (GW) of gas-fired power generation and 1.11 million cubic meters per day (m3/day) of water desalination facilities, as well as the related o…

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ACWA to acquire ENGIE’s assets in Bahrain and Kuwait for $693m

ACWA Power has signed a share purchase agreement with the regional subsidiary of ENGIE to acquire assets in Bahrain and Kuwait worth $693m.

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ENGIE, leader in low carbon energy, announces the signing of a Sales Agreement (SPA) for the divestment of its stake in Az Zour North, a combined gas asset and desalination of...